"my goal is to capitalize on the ups and downs of the market, sell high and buy low"
Don't mean to be a dick, but you do realize that is what all stock market speculators say right before they lose it all, right?
If you speculate for a living, be it on wall street, real estate, or BTC, eventually you will get your head handed to you unless it's a rigged game and you've got a seat at the top of the pile (think wall st. investment banks).
Be careful and have the humility to realize that market timing (which is what you want to do) is impossible to do consistently. If I were you I'd start a business that accepts BTC. That's a better way to achieve your goal IMO.
Topic: How do I achieve my goal of owning 10BTC in 2014 - page 2. (Read 2333 times)
I think that it is great idea and goal. We do not know what will bring us 2014, no one even dreamed at the beginning about Bitcoin being so high. Who knows... Maybe good aim is to have $8.500 in BTC at the end of 2014. 
As I always say, never invest more than what you can afford to lose. Just be careful.
It's definitely a gamble what you're planning. I hope you don't put any "real hard cash money" in this that you have been saving for something important.
I'm aware. I see it this way: many people buy a game console + some games, then have fun getting some virtual achievements. A decent console + a few games is much more than my 0.35 BTC. Let's say I prefer to gamble on an exchange and try to get some BTC denominated achievements . Even if I loose it all, well, I'm just another $300 fool, but had some fun for these money.In the meantime my bot is now able to trace the market and place limit orders on my exchange of choice. I've implemented some simple, rather bearish, trading algorithm. I'll see how it works in the next days...
I am in the same boat, have about 1.5 with 8.5 to go! I would be interested in some knowing some of the marketplaces besides ebay, that people buy merchandise with BTC?
Regards,
CH
Regards,
CH
Although risking to repeat answers of others:
It's definitely a gamble what you're planning. I hope you don't put any "real hard cash money" in this that you have been saving for something important.
There's a French saying:
Those who want to become rich within the coming year, will be hung in 8 months.
So take your time with those 10 BTC
It's definitely a gamble what you're planning. I hope you don't put any "real hard cash money" in this that you have been saving for something important.
There's a French saying:
Those who want to become rich within the coming year, will be hung in 8 months.
So take your time with those 10 BTC
I would love to accept Bitcoin at my dental office, but I know that 99.9% of my patients will have no clue what it is, and I can just as easily take their USD and convert it to BTC on Coinbase.
You can still accept both 
. 99.9% of your patients can still pay in USD.Any other newbies taking on this challenge too?
Well, I've started with only 0.35 BTC, so 10 BTC may be a bit unrealistic. I've also assumed some learning costs, so initial losses are unavoidable. And in fact I have 0.32 now... Anyway I've learned a lot. Now I'm writing my own trading bot, as it seems to be necessary for proper risk management.
I currently follow the same goal - earning 10 BTC - but I got some money to play with on the exchanges.
I made my first BTC within the last 4 weeks from daytrading but it is risky and time consuming.
I made my first BTC within the last 4 weeks from daytrading but it is risky and time consuming.
I don't think you can get 10 BTC without buying it for USD, well..not within a year, or you get super lucky by solo mining.
I understand Dr.Btc and his desire, especially if he did some e-trade trading. Obviously he understands risks and willing to risk, also there are quite a few businesses that accept bit coin / litecoin for their services.
i belive somone on this four has made a dynamic map for those similar to google maps where you can zoom in/out to particular area to find them.
So i think accepting bit coins for services is normal, specially if you are trying to gain some BTC without getting cash involved.
i belive somone on this four has made a dynamic map for those similar to google maps where you can zoom in/out to particular area to find them.
So i think accepting bit coins for services is normal, specially if you are trying to gain some BTC without getting cash involved.
Really? You'd do that for me? You're such a good internet friend!
I never thought of selling stuff around my house that I don't need. But I can also sell stuff for USD on eBay, then convert the USD into Bitcoin. More fees yes, but at least eBay has a sound infrastructure so I don't get burnt.
I would love to accept Bitcoin at my dental office, but I know that 99.9% of my patients will have no clue what it is, and I can just as easily take their USD and convert it to BTC on Coinbase.
Eye on the prize: 10 BTC in 2014. 1.7, 8.3 to go!
Any other newbies taking on this challenge too?
I never thought of selling stuff around my house that I don't need. But I can also sell stuff for USD on eBay, then convert the USD into Bitcoin. More fees yes, but at least eBay has a sound infrastructure so I don't get burnt.
I would love to accept Bitcoin at my dental office, but I know that 99.9% of my patients will have no clue what it is, and I can just as easily take their USD and convert it to BTC on Coinbase.
Eye on the prize: 10 BTC in 2014. 1.7, 8.3 to go!
Any other newbies taking on this challenge too?
try buying 1BTC and gamble to see if you get 10btc
Yup. Throw it into PrimeDice or some dice game and see if you get it back
Or you could send me 1 BTC, i'll give you 10 BTC by the end of this year xD
try buying 1BTC and gamble to see if you get 10btc
Also be aware that MtGox price has such huge difference for a reason...
The problem I'm having is that transactions take too long. As far as I can tell, there is no "ETrade for a bitcoin" where I can move money into and out of the market in a matter of seconds.
Moving USD internationally is very slow, so when you try to do arbitrage it can become painfully slow especially because some exchanges delay the typical 3 business days internationall bank wire transfers to weeks
The best way to get Bitcoins is to earn them, if you dont like to risk your fiat balance.
Work or sell stuff you no longer need for BTC.
Work or sell stuff you no longer need for BTC.
Great idea. I'm doing something similar myself. Looking at all the ways I can to earn coin. There are tons of resources but look round the forum for ideas.
I think this is a very good goal, and I am also really trying to get 10 BTC, trading on BTC-E. I have had quite a bit of luck, any tips from some of you veterans reading this post?
Thanks,
CH
Thanks,
CH
You would have better luck selling drugs on silk road
Two ways:
1) Crash the bitcoin market (ha! ..somehow) and buy up 10BTC for $1.
2) Get a job that pays about $100k yearly (after taxes), blow all of it on bitcoins.
So in all seriousness, what you're doing amounts to day trading. Super risky, but with risk there's the possibility of a huge payoff.
Good luck!
1) Crash the bitcoin market (ha! ..somehow) and buy up 10BTC for $1.
2) Get a job that pays about $100k yearly (after taxes), blow all of it on bitcoins.
So in all seriousness, what you're doing amounts to day trading. Super risky, but with risk there's the possibility of a huge payoff.
Good luck!
1) I wish I had that kind of power
2) I make over $100K, but I just bought a house and my disposable income is less than it used to be.
I don't mind some risk, but if I can't quickly sell at 900 and quickly buy at 799, it's hard to get any sort of momentum.
I work in the dental field, perhaps I can trade some sort of teeth whitening kit for a bitcoin? Not sure what else I can barter?
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